-
Euro zone factory downturn deepens as core economies struggle
Euro zone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, likely fuelling expectations of further easing from the European Central Bank. Manufacturers were the driving force behind the bloc's recovery from the last recession, but the downturn in factory activity that began in smaller periphery countries has now engulfed core members Germany and France. "The manufacturing sector opened the final quarter of 2012 on a disappointing footing, as the downturn in the sector gathered pace," said Chris Williamson, chief economist at data collator Markit. ... (full story)